Request for quote software

All for free. Whether you are preparing quotations for a new client or a recurring client, serving both of them effectively and offering them deals that add value to their business is important. Using quotation-making software, you can process quotation requests easily without any cumbersome. A quotation is the first point of contact with the client, and it is imperative to issue a quotation without any errors.

Creating quotations using quotation software eliminates the risk of error in the quotation. As the data is fetched from the database, there is no need to retyping the customer details every time you create a quotation. The calculations like GST, discounts, and totals are auto-calculated, so there is no chance of error when creating the quotation. When creating quotations there is no need of writing the customer details again, once the customer detail is stored.

You can instantly send the quotation to the client via email and can also track the same to check whether the customer opened the quotation. Once the quotation gets approved, you can directly convert the same quotation to an invoice via invoice generator , without any effort of creating the invoice from scratch. Always choose the quoting software which provides the option of customizing the quotation you want.

You should be able to customize the quotation, the way you want it. Select from the host of different quotation templates. We provide a professional template, letterhead template, business quotation template, print-friendly template. You can choose multiple font headings and more than colors for templates.

The professional wise template includes free photography invoice template , online commercial invoice template , freelance invoice template , free purchase order format , proforma invoice template , gst invoice format. When any client asks for changes, there are high chances that the client is interested in your product or service. Quotation software helps to edit the quotes within seconds and faster the quoting process cycle.

Access and process your quotations from anywhere in the world using mobile devices. Get real-time email alerts. Quotation software helps you to keep all the quotations in one place and manage and track all of them easily. You can get all the client details as well. No need of referring to multiple files and folders to access the quotations. All the quotation in quotation software is well organized and easy to access with a few clicks of a mouse.

Free Quotation Making Software Create attractive quotations and never miss the business opportunity. Effortlessly process the quotation within minutes. Create Free Quotation. Fully Fledged quotation software for freelancers, small businesses, and agencies to create and manage unlimited quotations and estimates for free.

Now automate the quotation creating process and send the quotation to the client before your competition. Get Started For Free. Receive lead, create a quotation, and send directly to the client. Track the quotation status and convert the same to invoice or proforma invoice with one click. Create Attractive Quotations Select from the host of the template that fits your business nature. No ads or watermark on the quotation. Convert to Invoice Save time and effort by quickly converting approved quotation to invoice without creating the document from the scratch.

Track Quotations Send quotations via email and get to know when the quotation is delivered and seen by the client. Free Easy Quotation Easy to create a quotation instantly. Unlimited free quotations. Convert to Invoice Convert approved quotation to invoice and proforma with a single click.

All the documents get interlinked for easy reference. Quotation Templates Choose from the host of templates as per the requirement. Initially, the Reply progress will be Not started. When you click Edit RFQ reply, the progress status is Purchaser is updating until the bid is submitted. Click Submit when you have entered the bid information. The Reply progress status will change to Submitted by purchaser. Similarly, with vendor collaboration enabled, the Reply progress will update as the vendor interacts with the bid.

The status then changes from Vendor is updating to Submitted by vendor. When the bid is submitted, a journal is created as Received. The reply bid has to be submitted in order to be registered as received, and only then it can be further processed as accepted or rejected. Note that editing the Request for quotation form is only allowed for information that relates to processing the bid, not for entering the bid.

To enter or modify the bid, click Edit RFQ reply. When you enter the bid information, and if the RFQ case allows for alternate lines, you can add alternate lines for lines that only have a procurement category and no catalog item specified,. Click Add alternate to add alternate lines. If you've entered a reply but require a new offer from the vendor, you can return the RFQ. A new journal and a report are generated, that can be sent to the vendor. After you've identified the best bid, such as the bid that offers the best total price, you accept the bid.

You can accept some lines in a bid and reject others. You can also accept lines from different vendors. Be aware that if you accept some lines, you're prompted to reject all the other lines. Therefore, if you want to accept other lines, you must select Cancel when you're prompted. The status of the RFQ reply for each vendor that you accept bids or lines from is updated to Accepted.

If you, while you prepare the purchase order or purchase agreement, need to add an additional line to the RFQ, you can do so by clicking Add line on the Request for quotation page line grid. You can only view and edit this line in Request for quotation page. It will be visible on the bid page when it is accepted. When you accept a bid or one or more lines in a bid, a purchase order or a purchase agreement is automatically generated.

You can then reject the bids from all the other vendors. When you accept a bid of the Purchase requisition type, the purchase requisition lines will be updated with the following information that reflects the information of the accepted bid:. On the Vendor tab of the RFQ case, you can see the lines with the highest and the lowest status for a particular vendor. When the vendor is added, and no lines have yet been sent, both the lowest and the highest status is Created.

When the RFQ is sent to the vendor with all lines, the status of the two lines will be Sent. If some lines in a bid from a vendor are accepted and others are rejected, the rejected lines will get the lowest status which is Rejected , and the accepted lines will get the highest status which is Accepted. On the RFQ case lines, you can see the highest and the lowest status per line across all vendors.

If you have sent a line to all the vendors in the RFQ case and no one have responded yet both the lowest and the highest status is Sent. When at least one vendor responds, the highest state will change to Received. If you add a new vendor to the case, the lowest status will change to Created. The following table shows how the RFQ case status changes when you create an RFQ case with lines and then send it to vendors. The following table shows how the RFQ status changes as you receive bids and register the information on the RFQ reply sheet.

In the example below you can see the highest and lowest status on the RFQ case where one bid has been received and the other bid has been accepted.

When a received bid is rejected, the lowest status will change from received to rejected on the RFQ case header and line. Skip to main content. This browser is no longer supported. Download Microsoft Edge More info. Contents Exit focus mode. Is this page helpful? Please rate your experience Yes No. Any additional feedback? Note For a public-sector configuration, you must use the amendment process to change an RFQ that has already been sent. Submit and view feedback for This product This page.

View all page feedback. This document is a great example of the detail-oriented nature of the RFQ. RTI International Tablet request for quotation example. BrightRidge, a public power company, created a request for quotation to purchase a very specific piece of equipment. The document details all the specifications for the transformers and offers helpful information and instructions to guide vendors. BrightRidge transformer request for quote sample.

Need more templates? Interested in learning more about the other types of RFx documents? RFP software empowers RFP automation and allows issuers to create RFx templates, collaborate with vendors, automatically score proposals and more. Technology is transforming the procurement process and empowering better vendor selection. The RFQ: A request for quotation how-to guide with template. RFQ basics: Definition and uses. What is an RFQ? When should you use an RFQ?

Should you use an RFQ? Is an RFQ for you? Do you have a list of prequalified vendors that can supply the specific product or service you need? Is price the most important factor? Are you buying something that is ready out-of-the-box and needs no specialization? Do you know exactly what you want to buy and how many of each item? Will you be able to manage the item yourself without support from the vendor? Open bid An open bid is when responses are visible to all qualified vendors.

Pro: Pricing visibility may encourage more competitive pricing, driving costs down Con: Open pricing can backfire and lead to price-fixing among vendors Sealed bid A sealed bid is when an RFQ is open to all qualified bidders. Pro: May help reduce the risk of fraud and provide vendor selection transparency Con: Vendors may not be as motivated to provide their very best pricing Invited bid An invited bid is when only specific vendors receive the RFQ.

Pro: Issuing the RFQ to previously used and trusted vendors can speed the selection and contracting process Con: Competition is more limited and the buyer may miss out on cost savings offered by new vendors that are unknown to them Reverse auction A reverse auction asks vendors to supply their lowest offer and the cost decreases as the auction goes on. Pro: It is a fast, competitive, internet-based process and the lowest offer automatically wins Con: The contract is awarded automatically based on the lowest price, so other important factors may not be considered.

Preparation and requirements. Who will be invited to respond to the RFQ? When will the deadline be? How will you compare pricing? Documents and information to include with your RFQ Detail is at the heart of every effective request for quote.

Issuing and management. Scoring and selection. Closing and contracting. Review and evaluation. General vendor evaluation questions: Is the vendor fulfilling their side of the agreement?

Are you getting the value that you were hoping for and had planned on? Can the relationship be improved? Has the vendor received and acted on feedback? Are other vendors offering more competitive pricing now? Has the market changed? Sample RFQs: Template and examples.